£525,000
(£173.38/sq. ft)
Property for sale41 Cowick Street, Exeter, Devon EX4
3,028 sq. ft
Available immediately
About this property
Mixed use shop and flats investment
Prominent trading position in popular residential area
New 10 lease year lease agreed with Devon Air Ambulance Trust for ground floor shop
Asset management potential
Potential annual income approx: £48,000 p.a.
Guide price: £525,000
Mixed use shop and flats investment
Prominent trading position in popular residential area
New 10 lease year lease agreed with Devon Air Ambulance Trust for ground floor shop
Potential annual income approx: £48,000 p.a.
Asset management potential
The property is prominently positioned on Cowick Street, the main shopping parade and arterial route in the residential suburb of St Thomas approximately 1/2 mile from the city centre of Exeter.
Cowick Street is a popular location for a mixture of national retailers and independent occupiers including Cartridges Law, Greggs, Domino Pizza, Devon Air Ambulance and The Co-op.
There is a regular bus route past the property and a rail station and car parking close by.
The property comprises a mid terraced, four storey period property which is laid out to provide a ground floor retail unit together with four flats on the upper floors.
The ground floor shop is let to Devon Air Ambulance Trust who have been in occupation since 2004 operating as a charity shop and have recently agreed to renew their lease.
The four flats are self-contained comprising two x 2-bedroom and 2 x 1-bedroom units. One flat is occupied, the other on the market to let and the other two in need of refurbishment.
VAT is not chargeable to the purchase price.
Both parties to bear their own legal costs in the transaction.
41a Flat 1 E39
41a Flat 2 E45
41a Flat 3 E45
41c Flat 4 E51
Devon Air Ambulance Trust are currently holding over and have agreed terms to renew with Solicitors instructed by way of a 10 year lease on an internal repairing and insuring basis at a rent of £13,750 per annum, subject to reviews on 3 yearly intervals and tenants option to break at years 6 and 9. A. Reverse premium of 10 weeks has been provided upon completion of the new lease.
Flat 41c. The property has been let on an AST at rent of £7,800 p.a.
Flat 1 41a: Vacant. Estimated rental value once refurbished in the region of £9,300 p.a.
Flat 2 41a: Vacant. Estimated rental value once refurbished in the region of £7,800p.a.
Flat 3 41a: On the market with Cardens Letting Agents at £9,300 p.a.
Prominent trading position in popular residential area
New 10 lease year lease agreed with Devon Air Ambulance Trust for ground floor shop
Potential annual income approx: £48,000 p.a.
Asset management potential
The property is prominently positioned on Cowick Street, the main shopping parade and arterial route in the residential suburb of St Thomas approximately 1/2 mile from the city centre of Exeter.
Cowick Street is a popular location for a mixture of national retailers and independent occupiers including Cartridges Law, Greggs, Domino Pizza, Devon Air Ambulance and The Co-op.
There is a regular bus route past the property and a rail station and car parking close by.
The property comprises a mid terraced, four storey period property which is laid out to provide a ground floor retail unit together with four flats on the upper floors.
The ground floor shop is let to Devon Air Ambulance Trust who have been in occupation since 2004 operating as a charity shop and have recently agreed to renew their lease.
The four flats are self-contained comprising two x 2-bedroom and 2 x 1-bedroom units. One flat is occupied, the other on the market to let and the other two in need of refurbishment.
VAT is not chargeable to the purchase price.
Both parties to bear their own legal costs in the transaction.
41a Flat 1 E39
41a Flat 2 E45
41a Flat 3 E45
41c Flat 4 E51
Devon Air Ambulance Trust are currently holding over and have agreed terms to renew with Solicitors instructed by way of a 10 year lease on an internal repairing and insuring basis at a rent of £13,750 per annum, subject to reviews on 3 yearly intervals and tenants option to break at years 6 and 9. A. Reverse premium of 10 weeks has been provided upon completion of the new lease.
Flat 41c. The property has been let on an AST at rent of £7,800 p.a.
Flat 1 41a: Vacant. Estimated rental value once refurbished in the region of £9,300 p.a.
Flat 2 41a: Vacant. Estimated rental value once refurbished in the region of £7,800p.a.
Flat 3 41a: On the market with Cardens Letting Agents at £9,300 p.a.
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